Aethon Minerals Corp. Announces Earn-In Agreement with Option to Joint Venture with Rio Tinto Mining and Exploration Limited on the Arcas Project in Chile
September 11, 2019 at 06:43 pm
Aethon Minerals Corp. announced the execution of an Earn-In with Option to Joint Venture Agreement with Rio Tinto Mining and Exploration Limited /Agencia En Chile to acquire an interest in the Company's wholly-owned Arcas project in Chile. The Agreement allows Rio Tinto to acquire up to a 75% stake in Arcas, by incurring up to USD 25 million in exploration expenditures. The proposed exploration expenditures contemplated under this Agreement, would represent the first significant exploration program on the Arcas Project since the property was drilled by a subsidiary of Teck in 2010.